The House Committee on Financial Services will hold a hearing tomorrow to receive the Semi-Annual Report of the CFPB and Director Cordray’s testimony on the report. CFPB Director Cordray is scheduled to be the only witness.
Director Cordray testified before the Senate Committee on Banking, Housing and Urban Affairs last week on the CFPB’s semi-annual report, and we expect the House Committee’s hearing to cover similar topics, including the CFPB’s data collection practices, the CFPB’s proposed rule for prepaid cards, and the CFPB’s headquarters renovation budget. The Committee may also discuss with Director Cordray recent legislation that was the subject of a Committee markup.